CVR Partners (NYSE:UAN) Trading Up 7.7% After Insider Buying Activity

Shares of CVR Partners, LP (NYSE:UAN) traded up 7.7% on Tuesday following insider buying activity. The stock traded as high as $70.15 and last traded at $70.36. 15,167 shares were traded during trading, a decline of 52% from the average session volume of 31,896 shares. The stock had previously closed at $65.32.

Specifically, major shareholder Carl C. Icahn bought 6,071 shares of the stock in a transaction dated Monday, April 7th. The stock was bought at an average cost of $66.65 per share, with a total value of $404,632.15. Following the purchase, the insider now owns 219,620 shares of the company’s stock, valued at approximately $14,637,673. This represents a 2.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn purchased 500 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $74.98 per share, for a total transaction of $37,490.00. Following the purchase, the insider now directly owns 207,686 shares of the company’s stock, valued at $15,572,296.28. This trade represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CVR Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st.

CVR Partners Stock Performance

The stock’s 50 day moving average is $75.98 and its two-hundred day moving average is $74.73. The firm has a market capitalization of $1.19 billion, a P/E ratio of 12.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.10 and a quick ratio of 1.44.

CVR Partners (NYSE:UAN) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $1.73 EPS for the quarter. CVR Partners had a net margin of 11.59% and a return on equity of 20.61%. The company had revenue of $139.56 million during the quarter.

CVR Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.75 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.00 dividend on an annualized basis and a yield of 10.06%. This is a boost from CVR Partners’s previous quarterly dividend of $1.19. CVR Partners’s dividend payout ratio (DPR) is 121.53%.

Hedge Funds Weigh In On CVR Partners

Several institutional investors have recently modified their holdings of UAN. Apollon Wealth Management LLC raised its position in shares of CVR Partners by 18.4% in the 4th quarter. Apollon Wealth Management LLC now owns 4,295 shares of the basic materials company’s stock valued at $326,000 after acquiring an additional 667 shares during the period. McIlrath & Eck LLC acquired a new stake in CVR Partners in the third quarter worth $51,000. Bank of America Corp DE boosted its position in shares of CVR Partners by 13.4% during the fourth quarter. Bank of America Corp DE now owns 12,833 shares of the basic materials company’s stock worth $975,000 after purchasing an additional 1,520 shares in the last quarter. Summit Securities Group LLC boosted its position in shares of CVR Partners by 123.1% during the fourth quarter. Summit Securities Group LLC now owns 2,900 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Chancellor Financial Group WB LP acquired a new position in shares of CVR Partners in the 4th quarter valued at $209,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

About CVR Partners

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.